The Latest Breaking News from Shanghai

Stockpiling rife as city acts in attempt to avoid Shanghai-style lockdown

SINGAPORE/SHANGHAI: Alibaba Group plans to expand its Southeast Asian arm, Lazada, to Europe, two sources familiar with the matter told Reuters, as the Chinese e-commerce company seeks further overseas growth amid slowing opportunities at home.

The COVID-hit city of Shanghai is making more resources available to improve vaccination rates among the elderly as daily case numbers decline and it looks for a way out of four weeks of stringent lockdown restrictions.

Beijing closed some schools and public spaces on Thursday, as most of the Chinese capital's 22 million residents turned up for more mass COVID-19 testing aimed at averting a Shanghai-like lockdown.

Record high inflation, and the resurgence of COVID-19 cases and consequent lockdowns have negatively impacted the Chinese equity market. However, fundamentally strong Chinese stocks look sufficiently stable to weather short-term losses. So, it could be wise to bet on quality Chinese stocks FinVolution (FINV) and 360 DigiTech (QFIN). However, we…

A leading lobby group for global financial services firms has urged Shanghai authorities to let hundreds of exhausted staff go home after a month-long strict COVID-19 lockdown that has kept them in office buildings.

Some residents of the capital have begun stockpiling food and supplies after witnessing scenes of the tough lockdown in Shanghai

Some Wall Street banks slashed their profit estimates for Chinese companies, citing the recent Covid resurgence and subsequent lockdowns, Bloomberg reports. China's Covid Zero policy has dealt a heavy blow to the economy, as stringent restrictions pressure supply chains and chill consumption.  A week-long lockdown that shut down much of Shanghai…

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0.30%, to $105.25 a barrel by 0823 GMT. U.S.…